A significant part of an investment portfolio that is well-diversified and profitable is a real estate entry. And those who have extensive experience in real estate investment understand that the choice locations for putting in dollars are the big six cities: New York, Washington D.C., Boston, Chicago, San Francisco, and Los Angeles.
Image source: arms-control.org
For the past few years, though, the industry’s traditional focus on these metropolises is shifting because midsize, 18-hour cities have suddenly become appealing.
This type of city houses a rather large urban setting, characterized by an above-average increase in population, a booming economy, and a substantially lower cost of living compared to the aforementioned metro areas. Conducting business in these 18-hour cities commands less expensive costs.
Because of this, not only do businesses love investing, and companies prefer situating their offices in these locations, but millennials seek homes and jobs there as well. These cities are even targets for retirees who yearn for quality healthcare and urban living amenities.
There are a lot of locations that have risen as alternatives, with Minneapolis one of the leading cities.
Image source: photography-on-the.net
Its infrastructure woes have been solved creatively with rapid transit systems and public-private partnerships. And even if Minneapolis does not have as many universities as other cities, the metro, along with neighboring St. Paul, has benefited from a healthy growth in the medical and education sectors.